Frisby obtains new credit and streamlines operations
The company behind the dynamic climate control material, Comfortemp, has said it has received a revolving credit facility of up to $600,000. The financing was provided in equal parts by two current stockholders of the Company, MUSI Investments S.A. ("MUSI") of Luxembourg and Finpart International S.A. The Company further announced that it has managed to cut $2 million in spending from its 2002 operating expense budget, reflecting a spending reduction of nearly 28% and 40% when compared to 2001 and 2000 expenditure levels, respectively.